Jared Kushner won’t cash out of Dumbo Heights (or out of much else, for that matter)

White House senior adviser Jared Kushner will continue to hold personal stakes, possibly worth more than $150 million, in at least 40 New York City real estate entities, including some connected to Kushner Companies’ Dumbo Heights properties, new White House ethics disclosures show.

Kushner and his partners have spent more than $1 billion acquiring the Dumbo properties from the Jehovah’s Witnesses since 2013.

Ethics disclosures released by the White House Friday reveal that Kushner is not divesting from three Dumbo-linked LLCs. Those entities include “KC Dumbo Hotel, LLC,” likely connected to a planned hotel by hotelier Ian Schrager at one of the Dumbo Heights office conversions. The disclosure, which pegs the value of Kushner’s interest in the LLC at a maximum $5 million, includes an option to buy commercial real estate.

Another LLC Kushner will hold collects office rent in Dumbo, and his interest in that one is worth up to $5 million as well.

Much of Kushner Companies’ Dumbo office space is still in the pipeline, including 733,000 square feet of space at the Watchtower building.

The news comes just days after The Real Deal reported that Kushner Cos. and partners RFR Realty and LIVWRK would buy out Invesco, the majority equity partner on four Dumbo Heights buildings collectively valued at $600 million.

A representative for Kushner Companies did not immediately respond to a request for comment.

In addition to Dumbo assets, the ethics disclosures show Kushner is keeping his interests in dozens of other New York real estate entities, including those tied to his large East Village rental building portfolio, the Puck condo conversion in Soho, 715 Park Avenue, a lucrative retail condo near Times Square at 229 West 43rd Street, and the luxury condo conversion known as Austin Nichols House in Williamsburg.

An entity bearing the name of a longtime Kushner Companies investment partner, the food import mogul George Gellert, also appears in the filings. The entity was once part of the ownership of 80 West End Avenue, which Kushner and Extell Development sold to Michael Ring in 2014. The LLC is now used for an unspecified real estate investment in Astoria that Kushner is not divesting from.

The total value of Kushner’s assets in the disclosures is somewhere between $241 and $741 million, as the disclosures use ranges rather than specific amounts. He earned as much as $180 million in income last year, compared to up to $10 million listed for his spouse, Ivanka Trump.

It’s difficult to discern which real estate assets some of the entities in Kushner’s disclosure are connected to because they are not necessarily the same entities through which the underlying real estate is owned.

Among the entities Kushner has divested or is divesting from are LLCs tied to 666 Fifth Avenue, Bruckner Plaza in the Bronx, 80 Maiden Lane and the portfolio of Astoria buildings Kushner Companies recently went into contract to sell for $76 million. He is also divesting from another real estate entity in which his stake has a listed value exceeding $50 million, BFPS Ventures, LLC, which TRD could not connect to any specific property.

Outside of New York City, Kushner is holding onto dozens of real estate holdings, including many in New Jersey, such as Trump Bay Street, the luxury rental Kushner raised $50 million in EB-5 funding to develop.